Soybeans firm as Chinese demand assessed, wheat down

Chicago soybean prices firmed on Friday in bargain-buying after sharp falls on Thursday, as traders assessed prospects for more U.S. sales to China after the trade war truce between the two countries. Wheat fell on the smaller-than-hoped recent U.S. sales to China, with focus returning to large global supplies. Corn was little changed but facing headwinds from larger supplies as the U.S. harvest approaches completion. “There is a wide range of market estimates of recent Chinese purchases of wheat and soybeans but the initial volumes reported were disappointing,” one German trader said. “However we are at the beginning of the new phase in the U.S./China trade dispute in which China apparently has committed to buy more U.S. soybeans and grains. Hopes remain (that) more Chinese buying will occur but more official details are needed.” Chicago Board of Trade most-active soybeans ZS1! rose 0.4% to $11.12-1/2 a bushel at 1216 GMT. Wheat ZW1! fell 0.4% to $5.33 a bushel, corn ZC1! eased ...